83,361 Shares in Ionis Pharmaceuticals, Inc. $IONS Bought by Marex Group plc

by · The Markets Daily

Marex Group plc purchased a new stake in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS – Free Report) in the second quarter, HoldingsChannel.com reports. The fund purchased 83,361 shares of the company’s stock, valued at approximately $3,294,000.

A number of other large investors have also recently bought and sold shares of the company. Castle Rock Wealth Management LLC acquired a new stake in Ionis Pharmaceuticals in the second quarter valued at about $215,000. Norges Bank bought a new position in shares of Ionis Pharmaceuticals in the second quarter worth about $17,790,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Ionis Pharmaceuticals in the 2nd quarter valued at approximately $1,488,000. Hsbc Holdings PLC grew its holdings in shares of Ionis Pharmaceuticals by 44.7% during the 2nd quarter. Hsbc Holdings PLC now owns 108,294 shares of the company’s stock valued at $4,294,000 after purchasing an additional 33,461 shares during the last quarter. Finally, Exome Asset Management LLC increased its position in Ionis Pharmaceuticals by 121.0% during the 1st quarter. Exome Asset Management LLC now owns 135,616 shares of the company’s stock worth $4,092,000 after purchasing an additional 74,249 shares in the last quarter. 93.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Ionis Pharmaceuticals news, EVP Richard S. Geary sold 33,038 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $75.72, for a total transaction of $2,501,637.36. Following the completion of the sale, the executive vice president directly owned 59,657 shares in the company, valued at approximately $4,517,228.04. This trade represents a 35.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brian Birchler sold 8,000 shares of Ionis Pharmaceuticals stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $76.17, for a total value of $609,360.00. Following the completion of the transaction, the executive vice president directly owned 48,826 shares of the company’s stock, valued at approximately $3,719,076.42. This trade represents a 14.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 504,866 shares of company stock valued at $35,744,766. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Ionis Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their target price for the company from $49.00 to $80.00 in a research report on Wednesday, October 8th. Oppenheimer boosted their price objective on Ionis Pharmaceuticals from $84.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. TD Cowen upped their target price on Ionis Pharmaceuticals from $59.00 to $99.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. BMO Capital Markets raised Ionis Pharmaceuticals from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $70.00 in a research note on Wednesday, September 3rd. Finally, Morgan Stanley upped their price objective on Ionis Pharmaceuticals from $90.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ionis Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $84.85.

View Our Latest Report on IONS

Ionis Pharmaceuticals Trading Up 2.1%

Shares of IONS stock opened at $80.82 on Friday. Ionis Pharmaceuticals, Inc. has a 1-year low of $23.95 and a 1-year high of $83.61. The company has a current ratio of 2.79, a quick ratio of 2.78 and a debt-to-equity ratio of 0.96. The stock has a market cap of $13.09 billion, a price-to-earnings ratio of -47.82 and a beta of 0.30. The stock has a 50-day moving average of $74.91 and a 200-day moving average of $56.18.

Ionis Pharmaceuticals (NASDAQ:IONS – Get Free Report) last announced its earnings results on Wednesday, October 29th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($1.15) by $0.35. The business had revenue of $156.72 million for the quarter, compared to analysts’ expectations of $131.75 million. Ionis Pharmaceuticals had a negative return on equity of 44.26% and a negative net margin of 26.45%.The firm’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.95) earnings per share. On average, equities research analysts forecast that Ionis Pharmaceuticals, Inc. will post -3.5 earnings per share for the current year.

Ionis Pharmaceuticals Profile

(Free Report)

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.

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